How to Be a Capitalist Without Any Capital by Nathan Latka

Author:Nathan Latka
Language: eng
Format: epub
Publisher: Penguin Random House LLC
Published: 2019-03-05T00:00:00+00:00

Property Manager:

They want to do the $2400 option with utilities included. Do you want me to finalize the lease for this? I know you are losing money short term, but if you have to turn the unit over and prepare for new tenants this late in the year I think you would lose more money. I would recommend going with this and we will send renewals with the firm higher rates for next year and prepare for them to vacate and re-lease.

Thanks!

Getting the property manager to either agree or disagree with you on what you think you can get for rents helps align them with your goal.

My property manager will fight harder for future increases in rents because they said they felt good about increasing next year to my levels: “We will send renewals with the firm higher rates for next year.”

Property managers are your biggest allies. They help you keep expenses low and also help you drive rents up. They are your local feet on the ground for any deal. Treat them well. Send birthday cards.

Real estate taxes are the next expense that can eat into your monthly cash flow. You’ll pay different taxes depending on what state your deal is in.

According to WalletHub (https://WalletHub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/), the states with the lowest real estate taxes are:

Rank

State

Effective Real-Estate Tax Rate

Annual Taxes on $176K Home*

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